Last week, I had the pleasure of participating in a panel discussion at an Argyle Executive Marketing Forum. Held at the Union League in New York, the event focused on retail and consumer goods, and attracted an audience of marketing executives from large brands and retailers in the New York area. It was a wonderful opportunity to connect with many of our customers in the retail industry!
The overarching theme of the event was how digital marketing plays a critical role in revenue generation for retail brands, and the continued shift of consumer purchases moving from brick-and-mortar stores to online. Representatives from various brands spoke extensively about the challenges of connecting with customers in a multi-channel and ever-evolving landscape; many of whom felt they could no longer rely on the traditional means of advertising (both on- and offline), and pointed to increasing pressure to build a lifestyle and brand that customers can connect with — beyond just the products.
The particular discussion I was a part of focused on "Customer Engagement in a Hyper Connected World," and I sat alongside marketing executives from Harper Collins, QVC, Maidenform and MediaMath on the panel. One key takeaway from the conversation was how brands are leveraging multi-channel streams to drive revenue. My fellow panelists spent quite some time discussing the notion that if their actions can't be tied to revenue, then they don't matter (but isn't this true for all marketers now?).
Another hot discussion item was the shift from static to dynamic content, particularly with video. As a way to increase conversion rates on their sites, many of our retail customers, such as Macy's and Liz Earle TV, have made the switch from static product images to creating product videos for their top selling products.
Maidenform shared an anecdote about how live streaming coverage of their fashion shows in Amsterdam became a way to connect with their global audience and to showcase some of their more fashion-forward products. The brand's live event generated hundreds of thousands of impressions and views within 24 hours, and helped boost sales for their spring line.
One of Brightcove's customers, HUGO BOSS, has also found great success through live streaming of their fashion shows. In fact, they have live streamed their last four spring and fall fashion shows worldwide, giving BOSS fans the ability to view the latest pieces in real time. HUGO BOSS took their latest Shanghai fashion show one step further by integrating e-commerce functionality into the live stream, giving their customers the ability to purchase the collection as it was appearing on the runway.
QVC, the grandfather of entertainment shopping, talked about the power of taking their content beyond the TV screen, connecting with younger consumers online. By making their digital content available online and via social media channels, they are able to stay relevant to a younger emerging and growing consumer market.
At the close of the panel discussion, I was asked about the top three problems Brightcove solves for our retail customers. I shared my insight with the audience regarding Brightcove's ability to:
- Give our customers better brand control over their content
- Increase time on site with a platform that encourages engagement
- Increase conversion rates across all devices with in video call-to-action capabilities, and the use of advanced analytics to measure the performance of their videos at every stage of the customer journey
Participating in the Argyle event was such a great experience, and I look forward to seeing more of our customers at their CMO Executive Forum in Atlanta on May 22.